USDA analysts raised their forecast for the global sunseed production to 50.7 million tons

In their October report, USDA analysts raised their forecast for the global sunseed production to 50.7 million tons (+0.15 million tons compared to September and -5.4 million tons compared to 2023/24).

Consumption will reach 51.3 million tons (50.9 in September). The sunseed production in Argentina will be 4 million tons (+0.2), and consumption will be 3.5 million tons (+0.2).

Global sunseed stocks will be 2.3 million tons (2.3 and -0.8 million tons), including Russia with 0.35 million tons, Ukraine with 0.23 million tons, Moldova with 0.33 million tons, and Kazakhstan with 0.2 million tons. Global sunseed imports will be 2.1 million tons, including Turkey at 0.45 million tons, China at 0.2 million tons, and the EU at 0.4 million tons.

The oilseed production will be 687.32 million tons (657.56 in 2023/24).

Beginning soybean stocks are 112.37 million tons (100.92 in 2023/24), production is 428.92 million tons (+0.28 and 394.71 in 2023/24 and 378.4 in 2022/23), including Ukraine with 6.6 million tons (+0.2), the United States with 124.7 million tons (+0.1), Brazil and Argentina unchanged at 169 million tons and 51 million tons, respectively. The forecast for Russia's production is 7.3 million tons. Global consumption will be 402.72 million tons (-0.26 million tons and 383.8). Exports will be 181.53 million tons (-0.1 million tons and 176.87), and ending stocks will be 134.65 million tons (+0.07 and 112.37).

The rapeseed production will be 87.44 million tons (-0.12 and 89.13), with ending stocks at 8.05 million tons (-0.3 and 10.15).